ID: MRFR/CnM/6020-HCR | January 2023 | Region: Global | 140 Pages
Polybutene Market is projected to be worth USD 850 million by 2030, registering a CAGR of 7.5% during the forecast period (2020 - 2030).
$850 million
7.5%
Asia-Pacific
2022 - 2030
Polybutene Market Overview
Polybutene Market was valued at USD 1.78 billion in 2016, growing with the CAGR of 4.5% during the forecast period. Polybutene is a plastic resin that exhibits excellent color, chemical and oxidative stability, cohesive nature, and low permeable properties, and it has been mainly used as modifiers and extenders in butyl rubbers. It also helps in reducing tensile strength and heat distortion temperature, and the superior properties of polybutene make it an ideal application for flexible automotive components such as gaskets, mudguards, wire jacketing, and airbag door covers.
The market for polybutene market has been segmented on the basis of application and area, and based on application, the polybutene market has been divided into automotive, adhesive, electrical insulation, fuel, and lubricant additives, cosmetics and personal care, and others. Adhesive-based polybutene is dominating the market that maintains high flexibility at low temperatures. As an adhesive, the chief application is binding and packing majorly used in diapers and feminine products.
Market Segmentation
The polybutene market has been segmented on the basis of application and region. Based on application, the polybutene market has been segregated into automotive, adhesive, electrical insulation, fuel and lubricant additives, cosmetics and personal care and other. Adhesive based polybutene has been dominating the market, it maintains high flexibility at low temperatures. As an adhesive its chief application are binding and packing majorly used in diapers and feminine products.
polybutene based lubricants segment is projected to witness significant growth owing to wide application in automotive and industrial lubrication replacing mineral oil. Polybutene unique properties such as good lubricity, hydrophobicity, high film strength and non-corrosive nature further augments its application as lubricants in end-use industries.
Key Players
Some of the prominent players in the Polybutene market are BASF SE (Germany), Dongfang Hongye Limited Company (China), DAELIM (South Korea), INEOS (UK), Lubrizol Corporation (U.S.), LyondellBasell Industries Holdings B.V. (The Netherlands), Mitsui Chemicals, Inc. (Japan), TPC Group (U.S.), Ylem Technology Co., Ltd. (South Korea), Braskem (Brazil), KEMAT Polybutenes (Belgium), SOLTEX (U.S.), Maharasthra Polybutenes Ltd (India), A S Harrison & Co Pty Limited (Australia) and Kothari Petrochemicals (India).
Market Overview
Growing polybutene based adhesive application in labels & tapes, disposable soft goods and food packaging is expected to drive the market demand. According to market research future report global adhesive tape market is expected to be around USD 62 billion by 2022. Development in packaging, automotive and consumer electronics have offered growth potential for adhesive market. In addition, according to China Adhesives and Tapes Industry Association, China adhesive production in 2014 was 6.59 million tons which has increased by 6.1% from 2013. Thus, rise in adhesive production and consumption is projected to propel polybutene market demand.
Increasing application of polybutene as an electrical insulation in several electronic products is projected to fuel market demand. Government initiative to strengthen economic growth in developing nations such as India, China, Africa, along with population growth and improving standard of living, is favoring global polybutene market. For instance, Electronic Industries Association of India has reported that Indian consumer electronic application production was worth USD 7,836 million in 2016 which has increased to USD 9,090 million in 2017. Thus, shift in consumers lifestyle towards smart lives has surged the demand for convenience electronic goods which has been positively influencing the polybutene application.
Global Polybutene Market Share, by Application, 2017 (%)
Source: MRFR analysis
Regional Analysis
Asia-Pacific dominates the global polybutene market with significant market share owing to rapid industrialization favouring the end-use industries of polybutene. The market growth is supplemented by low labour cost and economic growth. In addition, China and India government initiative to drive economic growth through innovation is expected to boost polybutene market demand. Moreover, recent trend of capacity expansion by global chemical manufacturing companies in emerging economies to meet customer demand is positively influencing the polybutene market growth during review period.
In North America market demand is positively impacted by growing application of polybutene in cosmetic & personal care products. Evolving consumers grooming habitat have increased the usage of cosmetic and skin care products in recent years. Further, increasing skin diseases across the globe has triggered the global consumption of skin care products. For instance, it is estimated that around 9,500 people are diagnosed by skin cancer in U.S. every day according to American Academy of Dermatology. Middle East & Africa and Latin America is expected to witness steady growth during the assessment period owing to rising application of polybutene in fuel and lubricants additive.Recent Development
Some of the important players in the polybutene market are BASF SE (Germany), DAELIM (South Korea), INEOS (UK), Dongfang Hongye Limited Company (China), Lubrizol Corporation (USA), and others. An increase in polybutene-based adhesive application in labels and tapes, disposable soft goods, and food packing is expected to take forward the market demand and according to a market research future report global adhesive tape, market is projected to be around USD 62 billion by 2022. Development in automotive and consumer electronics has offered growth potential for the adhesive market, and according to the China adhesives and tapes industry association, China's adhesive production in 2014 was 6.59 million tons which has increased by 6.1% from 2013. Hence, an increase in adhesive production and consumption is expected to propel polybutene market demand. The production of polybutene was worth USD 7,836 million in2016, increasing to 9,090 million in 2017.
Intended Audience
Report Attribute/Metric | Details |
---|---|
Market Size | USD 1.78 Billion |
CAGR | CAGR of 4.5% (2022-2030) |
Base Year | 2021 |
Forecast Period | 2022-2030 |
Historical Data | 2019 & 2020 |
Forecast Units | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | Basis of application and region. |
Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
Key Vendors | BASF SE (Germany), Dongfang Hongye Limited Company (China), DAELIM (South Korea), INEOS (UK), Lubrizol Corporation (U.S.), LyondellBasell Industries Holdings B.V. (The Netherlands), Mitsui Chemicals, Inc. (Japan), TPC Group (U.S.), Ylem Technology Co., Ltd. (South Korea), Braskem (Brazil), KEMAT Polybutenes (Belgium), SOLTEX (U.S.), Maharasthra Polybutenes Ltd (India), A S Harrison & Co Pty Limited (Australia) and Kothari Petrochemicals (India). |
Key Market Opportunities | Increasing application of polybutene as an electrical insulation in several electronic products is projected to fuel market demand. |
Key Market Drivers | Development in packaging, automotive and consumer electronics have offered growth potential for adhesive market. |
Polybutene Market is predicted to grow at 4.5% through forecast period of 2020-2027.
The forecast period for Polybutene Market research report is 2020-2027.
Some of the prominent players in the Polybutene market are BASF SE (Germany), Dongfang Hongye Limited Company (China), DAELIM (South Korea), INEOS (UK), Lubrizol Corporation (U.S.), LyondellBasell Industries Holdings B.V. (The Netherlands), Mitsui Chemicals, Inc. (Japan), TPC Group (U.S.), Ylem Technology Co., Ltd. (South Korea), Braskem (Brazil), KEMAT Polybutenes (Belgium), SOLTEX (U.S.), Maharasthra Polybutenes Ltd (India), A S Harrison & Co Pty Limited (Australia) and Kothari Petrochemicals (India).
Global Polybutene Market is dominated by APAC region.